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Delta Leads Airlines Lower as Rising Costs Eat Into Profits

  • Carrier coping with surge in non-fuel expenses, disruptions
  • CEO Bastian cautions Delta shouldn’t ‘grow beyond our means’
Bloomberg business news
Delta Earnings Disappoint on Rising Costs
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Delta Air Lines Inc. fell short of profit expectations in the second quarter and said high operating costs will persist through the rest of the year, weighing on a possible rebound as carriers try to capitalize on continued strong travel demand.

So-called unit costs will climb as Delta extends constraints on its flying capacity for the remainder of 2022 in an effort to reduce flight delays and cancellations, the carrier said in a statement Wednesday. Delta’s adjusted profit was $1.44 a share in the second quarter, missing the $1.64 average expected by analysts.